Depends on what the word is to be honest and the buyer if they want it they will pay the price.. i have sold co.in and .in for $x,xxx so its not down to the extension.
Yes the majority of Indian businesses are .co.in that is becuase .co.in has been around longer. Also its widely known that .co.in means country.india or company.india or corporation.india this is what when asked it means to the Indian indivdual the same is also known with the .co.uk being a Registrar and also working very closely with nominet this is how its known over here too.
The .in just means india.. but that aside it will be a great extension for hacked names like book.in sign.in etc also people who want a short extension.. Its also a very nice looking extension.
I know people have there own views but a domain is only worth what someone is willing to pay no matter what the extension.
If you can its hard to do now due to the majority of good names are taken in .co.in and .in but try and register both